Measuring National Income in the Centrally Planned Economies

Why the West Underestimated the Transition to Capitalism

William Jefferies,

Measuring National Income in the Centrally Planned Economies: Why the West Underestimated the Transition to Capitalism
 
 

In 1991 "Communism" collapsed. The cold war was over and the West had won. Whole cities, Moscow, St Petersburg, Warsaw, Beijing, Budapest and Bucharest, whole countries indeed, were privatised for nothing or next to nothing. This was probably the greatest expansion of the world market in history. And yet, according to national income measurements of the CIA, OECD, World Bank and IMF, this gigantic expansion of market production, led to a decline in market production in the very countries where it was introduced. How to explain this paradox?

This book traces the origin of the West’s national income measurements, from their origin in the 1923/4 Balance developed in the USSR, to the USA in the early 1930s via two Soviet exiles, Simon Kuznets and Wassily Leontief, and then back to the USSR again, after a vigorous debate, through a protégé of Kuznets, Abram Bergson. The AFC imputed national incomes to a centrally planned economy, based on physical not income measurements. This book provides a detailed assessment of the failure of the AFC method to measure the real growth of actual market production during the transition period.

This book provides a detailed account of the application of national income measurements to the centrally planned economies. It assesses all of the major contributors to this debate, including Colin Clark, Naum Jasny, Alexander Gerschenkron, G.Warren Nutter and Abram Bergson. It provides a new much higher, estimate of the expansion of market production during the transition period, based on an estimate of the actual growth of real market production. It discusses the very significant implications of this re-estimate for contemporary theories of globalisation.



  • ;
  • ISBN:
  • Edition:
  • Title:
  • Series:
  • Author:
  • Imprint:
  • Language:

In The Press


About The Author


Customer Reviews

Verified Buyer

Read online

If you’re using a PC or Mac you can read this ebook online in a web browser, without downloading anything or installing software.

Download file formats

This ebook is available in file types:

This ebook is available in:

After you've bought this ebook, you can choose to download either the PDF version or the ePub, or both.

DRM Free

The publisher has supplied this book in DRM Free form with digital watermarking.

Required software

You can read this eBook on any device that supports DRM-free EPUB or DRM-free PDF format.

Digital Rights Management (DRM)

The publisher has supplied this book in encrypted form, which means that you need to install free software in order to unlock and read it.

Required software

To read this ebook on a mobile device (phone or tablet) you'll need to install one of these free apps:

To download and read this eBook on a PC or Mac:

  • Adobe Digital Editions (This is a free app specially developed for eBooks. It's not the same as Adobe Reader, which you probably already have on your computer.)

Limits on printing and copying

The publisher has set limits on how much of this ebook you may print or copy. See details.

  • {{ format_drm_information.format_name }} unrestricted {{ format_drm_information.format_name }} {{format_drm_information.page_percent}}% pages every day{{format_drm_information.interval}} days {{ format_drm_information.format_name }} off
Read Aloud
  • {{ read_aloud_information.format_name }} on {{ read_aloud_information.format_name }} off
Subject categories
  •  > 
ISBNs